Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Busey Bank

Busey Bank decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,388 shares of the oil and gas producer’s stock after selling 700 shares during the period. Busey Bank’s holdings in Enterprise Products Partners were worth $1,583,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after acquiring an additional 3,770 shares in the last quarter. Sanders Morris Harris LLC grew its stake in shares of Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after purchasing an additional 154,822 shares during the period. Nwam LLC increased its holdings in shares of Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 10.8% in the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock valued at $1,425,000 after purchasing an additional 4,757 shares during the period. Finally, Natixis boosted its holdings in Enterprise Products Partners by 144.9% during the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after buying an additional 44,300 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.04 on Friday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company’s 50-day moving average is $29.25 and its two-hundred day moving average is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.